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    1349 Boston Rd Springfield, MA 01129

    • Retail properties
    • 9,000 SF
    • 2.52 lot acres
    For Sale
    View listing
    $3,990,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Applebee's Grill + Bar / Family Restaurant / Hamburger Restaurant

    Property Details for 1349 Boston Rd

    Lot size
    2.52 lot acres
    Property size
    9,000 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional investment opportunity presents a triple-net (NNN) leased retail portfolio in Springfield, Massachusetts, boasting a strong 6.97% cap rate and a substantial net operating income (NOI) of $278,045. The property encompasses a total of 9,000 square feet across two buildings situated on a 2.52-acre lot zoned for Business A use. The portfolio comprises three distinct tenants: M&T Bank, Applebee's, and Verizon Wireless, all under corporate guarantees, ensuring stable and predictable income streams. The property enjoys 100% occupancy. M&T Bank occupies a 3,116 square foot building constructed in 2006 and recently renovated. The 4,884 square foot Applebee's restaurant was built in 2007. A Verizon Wireless cell tower is also located on the property. This prime location on Boston Road in Springfield benefits from high traffic volume, exceeding 23,000 vehicles daily. The property includes three ground leases and was renovated in 2004. The asking price for this lucrative investment is $3,990,000. This represents a compelling opportunity for investors seeking a stable, high-yield, and diversified retail portfolio in a desirable location.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.4984
    Latitude
    42.1405

    Comparable in this City

    • Value Estimation by Request
      1,992 SF

      1954 Wilbraham Rd

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      3,508 SF

      1946 Wilbraham Rd

      FINANCIAL BUILDING • 3,508 SF
      1946 Wilbraham Rd, Springfield, MA 01129-1823
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      $550,000
      3,286 SF

      1900 Wilbraham Rd

      FINANCIAL BUILDING • 3,286 SF
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      2,304 SF

      1930 Wilbraham Rd

      FINANCIAL BUILDING • 2,304 SF
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    • Value Estimation by Request
      2,759 SF

      1800 Boston Rd

      FINANCIAL BUILDING • 2,759 SF
      1800 Boston Rd, Springfield, MA 01129-1127
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    • Value Estimation by Request
      17,942 SF

      513 Pasco Rd

      DEPARTMENT STORE • 17,942 SF
      513 Pasco Rd, Springfield, MA 01129
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    Similar Nearby for Sale

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      Springfield Retail Portfolio: Triple Net Lease

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    • $1,200,000
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    Similar Nearby for Lease

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    1349 Boston Rd
    Springfield, MA 01129
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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